Alwaleed Plans to Increase His Stake in Citigroup Back to 5%
By Steve Dickson
Nov. 20 (Bloomberg) -- Saudi billionaire Prince Alwaleed bin Talal plans to increase his stake in Citigroup Inc. to 5 percent after the U.S. bank lost almost a quarter of its value yesterday.
``Prince Alwaleed began buying Citi shares, as he strongly believes that they are dramatically undervalued,'' he said today in a statement.
In addition to his princely duties, the multi-talented Alwaleed is also the gossip columnist and rock critic for the Vatican newspaper L'Osservatore Romano under the pen name Guido Sarducci.
Every empire in its official discourse has said it is not like the others, that its circumstances are special, that it has a mission to enlighten, civilize, bring order and democracy, and that it uses force only as a last resort. And, sadder still, there always is a chorus of willing intellectuals to say calming words about benign or altruistic empires, as if one shouldn't one's eyes watching the destruction and the misery and death brought by the latest 'mission civilisatrice.' Edward W. Said